Subsidiaries of insurance agency partnership BRP Group have agreed to acquire substantially all of the assets of Wood Gutmann & Bogart Insurance Brokers and certain of its affiliates and related entities.
Based in Tustin, California, WGB is a middle-market brokerage firm providing commercial, personal and employee benefits insurance products and services. With annual revenues of approximately $29.7 million, WGB (#63 in 九色’s “Top 100” list of independent property/casualty agencies) represents Florida-based BRP Group’s sixth “Top 100” partnership since the beginning of the fourth quarter of 2020.
The deal, which is being transacted through BRP Group’s indirect subsidiaries including Burnham Benefits Insurance Services in Irvine, Calif., adds approximately 130 colleagues along with scale to BRP Group’s West Coast operations. In conjunction with Burnham, this partnership creates a top 3 broker in Los Angeles, according to rankings by the Orange County Business Journal
No terms were disclosed. The acquisition is expected to close or around December 1, 2021.
Topics Mergers & Acquisitions Agencies
Was this article valuable?
Here are more articles you may enjoy.
Albertsons Reaches $774 Million Opioid Accord, Records Loss 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
Data Centers Offer a Potential $10 Billion Windfall for Insurers 
